Articles by Deepak Agrawal

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Tax Residency Certificate

  Deepak Agrawal    01 June 2013 at 16:30

Significance of Tax Residency Certificate (TRC) for claiming benefit provided under DTAA: Section 90 of the Income Tax Act empowers the Central Government to enter into an agreement with the Government of any foreign country or specified territory

Posted in Income Tax  8 comments |   286084 Views

Increasing rate of MAT, Reducing the MAT Credit

  Deepak Agrawal    23 April 2013 at 12:09

In the Finance Bill, 2000, the government introduced the new provision u/s. 115JB: The extract of the same from the memorandum to finance bill was as under: The new provisions provide t

Posted in Income Tax  6 comments |   71987 Views

Sec. 54F:Judicial Analysis-Investment in more than one units

  Deepak Agrawal    22 April 2013 at 11:16

Judicial Position on Exemption u/s. 54F where investment is made in more than one Residential House Property units/adjacent flats/more than one unit on different floors: 1. Section 54F is reproduced as under: Section 54F provides that-

Posted in Income Tax  2 comments |   33765 Views

Requirement of PAN by Non-Residents & Tax Consequences

  Deepak Agrawal    01 April 2013 at 14:20

NOTE ON REQUIREMENT OF PAN BY NON-RESIDENTS IN INDIA AND TAX CONSEQUENCES: The analysis of the requirement of PAN is made on the basis of following cases: I. Non resident is exempt from tax in India: II. Non resident is liable to ta

Posted in Income Tax  5 comments |   62284 Views

Taxability for concession in school fees or scholarship

  Deepak Agrawal    22 February 2013 at 11:21

NOTE ON PERQUISITE TAXABILITY FOR CONCESSION IN SCHOOL FEES OR SCHOLARSHIP GIVEN BY THE EMPLOYER TO THE CHILD OF EMPLOYEE: 1. Taxability of Perquisites: As per section 17(2) (iv), Perquisite includes, any sum paid by the employer i

Posted in Income Tax  4 comments |   41828 Views

Section 80CCG - Rajiv Gandhi Equity Savings Scheme

  Deepak Agrawal    25 January 2013 at 18:09

Finance Act, 2012 has inserted section 80CCG in the Income Tax Act, 1961 (the Act) with effect from Assessment Year 2013-14 (Current Financial Year 2012-13) to encourage new investors in the equity market. The details of the

Posted in Income Tax  3 comments |   46095 Views

Applicability of sec. 9(1)(vii) on Offshore Supply Contract

  Deepak Agrawal    19 January 2013 at 15:55

XYZ is engaged in the business of real state development. In the normal course of business, it imports the various high quality equipment's and goods from outside India. Whether the title and ownership of the goods exported by exporter outside India,

Posted in Income Tax |   11448 Views

Note on deduction u/s. 80HH to 80TT and Limit u/s. 80AB

  Deepak Agrawal    08 January 2013 at 12:17

Note on Allowability of deduction u/s. 80HH to 80TT of the Act to the extent of Gross Total Income in light of provision of section 80AB and determined Judicial Pronouncements: 1.1 Section 80AB of the Act: Deductions to be made with re

Posted in Income Tax |   35040 Views